Monday, July 1, 2013

July 1

New month.

/tf   double tops out at 6 am -- again -- best entries in the past week have been premarket (mostly fading highs).

O/n strength.  

/gc off the floor

ONXX - major buyout.

IBD names strong.

/tf  .43%
/es .44

TSLA pt raised.

AAPL -- strong 402 pm.


problem is:   market signals are too strong PM -- not in synch with price action.  May have just shorted the low...

scratched  /tf   +2 ticks.

Simply too much strenght pm to justify taking no-vol. entry here.    Especially on 1st of new month.

some of the data from europe was positive, + Australia... so lot of reasons to elevate.

5 min ch. still in downtrend --  looking very mixed.    gap fill target...

/cl pushing higher.

and that's  20 ticks from 977.6 entry short...   don't think!  The patterns will stop you out -- the more you interefere with the process, the worse the outcome.

25 ticks.

The ONLY signals that aren't noise is the chart.  Period.

/tf   974  -- red now.   from 982   o/n high - -double top.

and bounce

triple touch. small. 

ADrl 1151 , UD huge --  get OUT The way.

1st of month....      983 -- clear skies /tf      busting the doors.

indices - at 50 day MA daily -- push?

10 points top to bottom --   /tf  and /es  approx.   ???  toppish?  or more?

more for now.  signals powerful.

10:50 --   and   /tf  breaks up   987 -- 1 hour rule saves a bad short entry.

1.23%  /tf  .... 

IBD powerful

IYT  1.34%
XHB  1.61%
10 am  strong data.

11:35 --   BREAK!!!!!!

signals break with /tf


great discipline -- never got a short signal.   Never thought about it.  

UD  nhod.

990 - stall....  /tf 2% day! huge.  Easy to get trapped into thinking p/b

qqq regains 50 day MA.  IYT 50 day MA....

Dow 147+

$vix -4.7%

/es  - note AD  topped out at 10:05...  so there's that.  But that's not enough.

1:37 --   ad  1313

/tf -- setting up short but need at least an hour    990.7

UD - keeps drifitng higher.

flop around 2 pm -- 988

IBD names are SOLID.

aegr, yy, tsla, ngvc, xone, lgf, nflx scty, saia, imos

difficult day because the first entry was so fast  -- and then you had to really wait for a safe short -- TL break -- and then double top and finally -- a descending TL  to capture max 50 tick move

/es was better because it was weaker and provided much better downside movement.   So again -- watch both markets -- if shorting, focus on the weaker market.

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